Uncooked beef steaks priced at$20 in 2000→$37.38 in 2018

Historical Price Inflation for Uncooked beef steaks

Prices for Uncooked Beef Steaks, 2000-2018 ($20)

According to the U.S. Bureau of Labor Statistics, prices for uncooked beef steaks were
86.89% higher
in 2018 versus 2000 (a $17.38 difference in value).

Between 2000 and 2018:Uncooked beef steaks experienced an average inflation rate of 3.54% per year.
This rate of change indicates significant inflation.
In other words, uncooked beef steaks costing $20 in the year 2000 would cost $37.38 in 2018 for an equivalent purchase.
Compared to the overall inflation rate of 2.12% during this same period, inflation for uncooked beef steaks was
higher.

In the year 2000: Pricing changed by 6.65%, which is
significantly above the average yearly
change for uncooked beef steaks during the 2000-2018 time period.
Compared to inflation for all items in 2000 (3.38%), inflation for uncooked beef steaks was
much higher.

Price Inflation for Uncooked beef steaks since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
2004 (13.38%),
2014 (11.16%),
and 2003 (9.45%).

How to calculate the inflation rate for uncooked beef steaks, 2000-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 2000* 2000 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Uncooked beef steaks was 109.069 in the year 2000 and 203.840 in 2018:

203.840 / 109.069* $20 = $37.38

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2000 has the same "purchasing power" as $37.38 in 2018 (in the CPI category of Uncooked beef steaks).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Uncooked beef steaks in 1997. In addition to uncooked beef steaks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.